Mixed economic data from China hurt some of Asian currencies, but many of them managed to rise above the opening level by now, and the South Korean won was among them.
South Korean Won KRW
Central Bank: Bank of Korea
Public Debt to GDP Ratio, 2015: 34.9%
Trade Balance, 2015: $104.7 bln.
Inflation, 2015: 0.7%
Major industrial exporter
High-yielding interest rates
Factors of Weakness
Military instability on the Korean peninsula
Currency manipulation in favor of country's exporters
The South Korean won is the currency officially used in South Korea. It was introduced in 1962 and allowed to float freely in 1997.
South Korean Won News Archive
The South Korean won gained against the vulnerable US dollar today even though fundamentals were not supportive to the Asian currency.
The South Korean won fell against the US dollar today as the surprise monetary easing from the central bank of Singapore hurt Asian currencies in general while political turmoil in South Korea was hurting the won in particular.
The South Korean won gained against the US dollar and the euro during the current trading session with the help of domestic fundamentals that were relatively supportive to the currency.
The South Korean won rallied today even though the nation’s central bank cut its Base Rate unexpectedly. The most likely reason for the rally was the weakness of the US dollar, though the won gained versus the euro as well.
The South Korean won dipped today against the dollar as the US currency was propelled higher by positive economic data from the United States. Reports from South Korea itself were not bad either and may yet provide support for the won.
The South Korean won fell against the US dollar, following the rally to the two-week high, as the market sentiment was risk-negative and data from the United States boosted the greenback.
Today’s trade data from China helped many currencies of emerging markets, especially Asian ones. The South Korean won was among winners, rising against the US dollar, which continues to struggle after it has halted its rally.
The South Korean won rose together with other Asian currencies today with help of positive macroeconomic data from China, which made investors look more favorably on the currencies of emerging markets that are often associated with risk.